How working environment can support a trader

One of the factors that help a trader to achieve successful trading is organizing a workplace because it plays an important psychological role.

What should be the workplace of the trader at home?

Each profession has its own characteristics and own design of the working environment. Many people see a trader as an exotic profession, but not everyone comprehends how to organize logically their workplace. On the one hand, a simple trader only needs average computer or laptop to carry their work. On the other hand, more senior traders want to furnish their workplace. Nevertheless, it is not feasible to fill a desk with a lot of monitors, they will not help the trade to be better.

Do not try to equip the desk like that of professional traders from Wall Street as they have another type of work. Besides, one should not believe that prospect trader who earns on Forex often lying in a sunbed near the shore of a warm sea. The trader should concern about disadvantages such as overheating of the laptop in the sun, the glare of sunlight on the laptop monitor, wind with sand, clogging keyboard, low battery capacity, problems with the Internet, etc.

A trader, therefore, should have his/her own study, where he/she will not be distracted by children and he/she will be able to focus on work. Also, a trader should separate work area and rest area. Thus, it is unreasonable to work in the bedroom or wherever a trader rest. This is a crucial psychological moment. Because a trader works at home, then he/she should design a small study space and an area for rest, where he/she will not be distracted by graphics. Everything will depend on the trader style. A trader who trades not more than an hour a day does not care much about workplace but a trader who practices intraday should specifically take care of his/her workplace.

1. The Internet

The Internet for trading contributes as a huge role. The trader who works without internet cannot manage his/her transactions. Thus, a trader should constantly have a sub-provider in addition to the main provider such as a usb modem or a smartphone with a modem function. Besides, it will not be unnecessary to write down his/her broker’s phone numbers, so a trader can call for help when he or she encounter any issues related to Internet or electricity.

2. Computer

Trading in foreign exchange market does not necessitate some complicated equipment. But it is still uncomfortable when the computer delays at the time of the transactions settlement. Thus, it is reasonable to choose a reliable computer equipment. A trader should choose stationary personal computer rather than a laptop. Desirable computer components contain the processor Intel Core i5, the Asus motherboard with 8 Gb memory, the GeForce graphics card and the SSD-drive. There is an array of features of components, so a trader can rely on manufactures to opt computer components. A trader should also take care of the UPS (uninterruptible power supply) in case of a power outage or to place a laptop next to it, its charge will be sufficient for a trader to settle the deal.

Source: SMC Academy

3. Monitor

Many traders assume that they can enhance their trade efficiency by utilizing 10 monitors. Nevertheless, it is not. A string of monitors is necessary for hedge fund managers or those who trade on different terminals and control several markets. Normal traders just need 1-2 monitors so that one can be used to inspect market movement, and another is utilized for recreation. However, the diagonal of the monitor should be large- 24” with a resolution of Full HD 1920 × 1080 so that a trader can handily arrange all the tables and graphics on the screen.

Please, be aware that Binary Options trading is risky. Any operation with Binary Options should be done in compliance with your objectives, risk and money management. FinMax sells Binary Options at a price which may differ from the current market quotes. Only admitted users may trade with FinMax. In case of any legal restrictions you are not allowed to create an account. US traders are not admitted. To get further information, please be so kind to study with particular attention our Agreement.